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A small monetary system for the euro area based on German data (replication d...
Previous euro area money demand studies have used aggregated national time series data from the countries participating in the European Monetary Union (EMU). However,... -
Monetary policy analysis and inflation targeting in a small open economy: a V...
Empirical monetary policy research has increased in the last decade, possibly because deregulation and explicit monetary targets have made monetary policy issues more... -
The time-varying behaviour of real interest rates: a re-evaluation of the rec...
A time-varying parameter model with Markov-switching conditional heteroscedasticity is employed to investigate two sources of shifts in real interest rates: (1) shifts in the... -
Unit roots in the presence of abrupt governmental interventions with an appli...
This paper considers econometric issues related to time-series data that have been subject to abrupt governmental interventions. The motivating example for this study is the...
